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2001 SESSION

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SB 1384 University of Virginia Medical Center.

Introduced by: Emily Couric | all patrons    ...    notes | add to my profiles

SUMMARY AS INTRODUCED:

University of Virginia Medical Center interest income. Requires the Comptroller to credit the account of the University of Virginia Medical Center each month with the imputed interest earned on the investment of moneys derived from nongeneral operating cash balances, including but not limited to, balances derived from patient care revenues. To phase in the cost to the Commonwealth of crediting imputed interest earned on the investment of moneys derived from nongeneral operating cash balances and patient care revenues, the University of Virginia Medical Center is required to make the following deposits into the general fund from interest income earned on such nongeneral operating cash balances, as follows: $4,400,000 on or before June 30, 2002; $2,200,000 on or before June 30, 2003; and $1,100,000 on or before June 30, 2004.

In addition, minor technical revisions have been made to the statute in this bill to conform to current drafting styles.


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